Free Market Health operates a care-driven marketplace platform that matches payer-authorized specialty prescriptions with pharmacies equipped to meet patients' clinical needs. The company partners with payers to drive real-time market competition, lower specialty drug spend, and expand patient access to diverse pharmacy care models. Its platform currently manages more than 200,000 specialty drug claims annually, a nearly 400% year-over-year increase. In a payer deployment with Highmark Wholecare, the program produced a 40% reduction in member abandonment of prescriptions and delivered program savings of more than $2 PMPM. The company plans to use new capital to execute on significant business growth, launch channel partnership opportunities, and scale its marketplace and service model. Led by specialty pharmacy industry veterans, Free Market Health emphasizes price transparency, access, and individualized care across the specialty pharmacy ecosystem. Free Market Health offers a cloud-based, care-driven marketplace platform that complements payer processes and systematically matches specialty medication referrals to appropriate specialty pharmacies while balancing cost and value of care. The platform facilitates timely referrals, manages continuity of care, and provides transparent savings for payers while giving specialty pharmacies fair access to referral volume. Since launching the platform in early 2021, the company has facilitated the seamless match of thousands of specialty medication referrals and manages hundreds of millions of dollars in specialty medication spend. The company reports a 36% reduction in medication abandonment for payer-authorized referrals, indicating improved patient outcomes and operational efficiency. Free Market Health has tripled its team over the past year to serve a growing payer client base and a national specialty pharmacy network. The $13.5 million Series A will support scaling the platform and onboarding additional large national payers and specialty pharmacies before year end.

Total raised

$34M

Funding rounds

2

Latest round

Series B

Latest activity

Nov 2023